HCA COMPLETES SALE OF BAYTOWN, TEXAS HOSPITAL
SALE RESULTS IN 3RD QUARTER EPS CHARGE OF $.10 PER SHARE
NASHVILLE, Tenn., Sept. 2 /PRNewswire/ -- HCA - Hospital Corporation of America (NYSE: HCA) today announced that yesterday a Texas subsidiary of HCA completed the sale of Gulf Coast Hospital in Baytown, Texas to a subsidiary of Champion Healthcare Corporation of Houston.
As previously announced, this sale will result in an after-tax charge of approximately $17 million or $.10 per share in HCA's third quarter ending Sept. 30. The company will utilize the net cash proceeds from the sale to repay $12.5 million of outstanding bank debt.
The company believes that the sale of Gulf Coast Hospital and the repayment of bank debt will be beneficial to the future financial results of HCA.
Gulf Coast Hospital, a 139-bed medical/surgical hospital, became part of HCA in 1981 with the company's acquisition of a multi-facility hospital management company.
-0- 9/2/92
/CONTACT: Victor L. Campbell, vice president, Investor Relations, of HCA - Hospital Corporation of America, 615-327-9551/
(HCA) CO: HCA - Hospital Corporation of America ST: Tennessee, Texas IN: HEA SU: TNM

EA-BR -- AT016 -- 6086 09/02/92 16:52 EDT

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